Floating Rate Index definition

Floating Rate Index means, with respect to Securities of any series that bear a floating interest rate, the index specified as the Floating Rate Index by the Company pursuant to Section 3.1 with respect to such series.
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Floating Rate Index. The rate for a Rate Reset Date will be the rate for deposits in U.S. Dollars for a period of the designated maturity which appears on the Telerate Page 3750 as of 11:00 a.m., London time, on the Rate Reset Reference Date immediately preceding that Rate Reset Date. If such rate does not appear on the Telerate Page 3750, the rate for that Rate Reset Date will be determined on the basis of the rates at which deposits in U.S. Dollars are offered by four major banks in the London interbank market (the "Reference Banks") at approximately 11:00 a.m., London time, on such Rate Reset Reference Date to prime banks in the London interbank market for a period of the designated maturity and commencing on that Rate Reset Date. The Member and the Bank will request the principal London office of each of the Reference Banks to provide a quotation of its rate. If at least two such quotations are provided, the rate for that Rate Reset Date will be the arithmetic mean of the quotations. If fewer than two quotations are provided as requested, the rate for that Rate Reset Date will be the arithmetic mean of the rates quoted by major banks in New York City, selected by the Member and the Bank, at approximately 11:00 a.m., New York City time, on that Rate Reset Date for loans in U.S. Dollars to leading European banks for a period of the designated maturity commencing on that Rate Reset Date. Designated Maturity: Monthly Libor Spread: LIB1M + 0.080 LIBOR Determination: 2 New York and London business days prior to each payment date.
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Floating Rate Index means, in relation to the interest being borne during any Interest Period by any Note that bears a floating interest rate, for any Reset Date, the floating rate index specified for such Note in the relevant Confirmation of Acceptance.
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Examples of Floating Rate Index in a sentence

  • Floating Dividend Rate A floating rate equal to the Floating Rate Index plus 5.008% per annum per $25.00 of liquidation preference per share Floating Rate Index Three-month LIBOR Floating Rate Reset Frequency Quarterly during the Floating Rate Period Business Day Convention During the Fixed Rate Period, following business day.

  • From and after such date, unless the Company shall fail to pay such principal amount when so due and payable, together with the interest and Make-Whole Amount, Applicable Premium, if any, and Floating Rate Index Breakage Amount, if any, as aforesaid, interest on such principal amount shall cease to accrue.

  • Notwithstanding anything to the contrary herein or in any other Loan Document, upon the occurrence of a LIBOR Transition Event, Lender may amend this Note to change the Floating Rate Index from the One Month London Interbank Offered Rate to a Benchmark Replacement determined by Lender in its good faith discretion to approximate the Floating Rate Index contemplated in the Note.

  • If an Event of Default occurs and is continuing, the principal of this Note shall become due and payable in the manner, at the price (including any applicable Applicable Premium and Floating Rate Index Breakage Amount) and with the effect provided in the Private Shelf Agreement.

  • Prepayment of the Notes to be made pursuant to this Section 8.7 shall be made at 100% of the principal amount of such Notes being so prepaid, together with interest on such principal amount then being prepaid accrued to the date of prepayment and, in respect of any Notes bearing a floating interest rate, any Floating Rate Index Breakage Amount determined for the prepayment date with respect to such principal amount.

  • Prepayment of the Notes to be made pursuant to this Section 8.8 shall be made at 100% of the principal amount of such Notes being so prepaid, together with interest accrued thereon and, in the case of Notes bearing a fixed interest rate, the Make-Whole Amount, and, in the case of any Notes bearing a floating interest rate, the Applicable Premium, if any, and Floating Rate Index Breakage Amount, if any, each determined as of the prepayment date.

  • Notwithstanding anything to the contrary herein or in any other Loan Document, upon the occurrence of a LIBOR Transition Event, Lender may amend this Note to change the Floating Rate Index from the One Month London Interbank Offered Rate to a Benchmark Replacement.

  • Each such notice shall specify such date (which shall be a Business Day), the aggregate principal amount of the Series of Notes to be prepaid on such date, the principal amount of each Note held by such holder to be prepaid (determined in accordance with Section 8.3), and the interest, Applicable Premium, if any, and any Floating Rate Index Breakage Amount to be paid on the prepayment date with respect to such principal amount being prepaid.

  • The determination and provision for notice of the Adjusted Floating Rate (based on the Floating Rate Note Margin plus the Floating Rate Index) for any Interest Period with respect to any Shelf Note that bears a floating interest rate, shall be made as set forth in the Confirmation of Acceptance with respect to such Shelf Note.

  • In the case of each optional prepayment of Notes of any Series pursuant to this Section 8, the principal amount of each Note to be prepaid shall mature and become due and payable on the date fixed for such prepayment (which shall be a Business Day), together with interest on such principal amount accrued to such date and the applicable Make-Whole Amount, Applicable Premium, if any, and Floating Rate Index Breakage Amount.


More Definitions of Floating Rate Index

Floating Rate Index as used in this Note means a floating interest rate equal to the US Prime Rate as published by the Wall Street Journal from time to time (or a comparable rate selected by Lender if The Wall Street Journal ceases to publish such rate). The initial Floating Index Rate is 3.25%, provided, the Floating Index Rate shall be adjusted on the 14th day of each month (commencing on April 14, 2021) to the then current US Prime Rate as published by The Wall Street Journal on the last business day preceding such date.” “The term “Stated Rate” as used in this Note means a floating annual interest rate equal to the greater of (i) the Floating Rate Index, or (ii) 2.75%.”
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Related to Floating Rate Index

  • Floating Rate Period shall have the meaning set forth in Section 2.05(b) hereof.

  • LIBOR Daily Floating Rate means, for any day, a fluctuating rate of interest per annum equal to LIBOR as published on the applicable Bloomberg screen page (or such other commercially available source providing such quotations as may be designated by Administrative Agent from time to time), at approximately 11:00 a.m., London time, two (2) London Banking Days prior to such day, for Dollar deposits with a term of one (1) month commencing that day; provided that if the LIBOR Daily Floating Rate shall be less than zero, such rate shall be deemed zero for purposes of the Loan Documents.

  • CB Floating Rate means the Prime Rate; provided that the CB Floating Rate shall never be less than the Adjusted One Month LIBOR Rate on such day (or if such day is not a Business Day, the immediately preceding Business Day). Any change in the CB Floating Rate due to a change in the Prime Rate or the Adjusted One Month LIBOR Rate shall be effective from and including the effective date of such change in the Prime Rate or the Adjusted One Month LIBOR Rate, respectively.

  • Floating Rate Calculation Date means, for any Quarterly Floating Rate Period, the 30th day prior to the first day of such Quarterly Floating Rate Period.

  • Floating Rate Interest Period means the period from (and including) a Floating Rate Interest Payment Date (or the Call Date, in the case of the initial Floating Rate Interest Period) to (but excluding) the next succeeding Floating Rate Interest Payment Date.